There is just no easy way to get out of debt, you have to face up to the consequences. A bankruptcy is not always the answer, as the effects are long lasting. There are four ways to handle debts that are out of control, listed in best to worst in regards to the effect it will have on your credit:
If your credit isn't in terrible shape, can you reduce your other expenses, even if it means making hard choices or just change your lifestyle to fit your income? Some ways to do this:
Alternatives:
Selling the second car
Pulling equity out of your home
Applying for a non secured signature loan
Obtaining a loan from a relative
Selling your home and paying off your debts with the proceeds and then renting
Cashing out your 401K/retirement benefits
Selling family heirlooms, jewelry, etc…
Filing Bankruptcy - Final Solution
If your credit is already gone or one of the above isn't an option, go through Consumer Credit Counseling Services...